Motorbike insurance

Compulsory Civil Liability Insurance
- Who to buy: Motor vehicle owners participating in traffic and operating within Socialist Republic of Vietnam territory.
- Limit of motor vehicle owner’s liability to a third party in the Compulsory Civil Liability Insurance:
+ Damage to health & life: VND 150 million /person/occurrence
+ Property Damage: VND 50 million any one occurrence .
- Period of Insurance: 01 year, 02 years, 03 years
- Annual Premium - VAT included:
Motorbikes:
+ Lower than 50cc: 60,500 VND
+ 50 cc and above: 66,000 VND
Electric mopeds: 60,500 VND
- References:
Decree No. 67/2023/ND-CP dated September 6, 2023 of the Government regulating compulsory civil liability insurance by motor vehicle owners

Personal accident insurance according to the number of seats on motor vehicle
- Insured subject: Driver and passenger.
- Scope of coverage:
BIC shall indemnity for the Insured and/or his representatives against death and/or bodily injury arising out of any traffic accident when the Insured is sitting on or getting on/off the vehicle while the vehicle is joining in traffic within Socialist Republic of Vietnam territory.

Motorcycle physical damage insurance
- Insured subject: motorcycle has a valid registration and used for not more than 7 years.
- Scope of coverage:
+ BIC will provide coverage for any physical damage caused by unexpected accidents in the following cases: Crash, collision, overturning when the motorcycle is participating in traffic; Fire or explosion; Force majeure perils due to the nature; Loss of the entire vehicle due to theft or robbery.
+ Loss or damage to the insured motorcycle in the process of being transported by other means within the territory of Vietnam.
+ In addition, BIC shall pay necessary and reasonable expenses arising from an insurable incident/event with aim to secure transportthe damaged vehicle to the nearest garage; Survey fee.

Fire & Explosion Motorcycle Insurance
- Insured subject: motorcycle has a valid registration.
- Scope of coverage:
BIC shall provide coverage for any physical damage caused by unexpected fire, explosion – out-of-control motorcycle owner/driver.
- Deductible for partial loss: 300,000 VND/occurrence.